Don't you just hate Estate Agents.

Argyll_2

I had a couple of viewing's on a house up here in Scotland which I loved. It needed a lot of work on it but that didn't scare me off only the price the vendor was asking for it.

Anyway I put in a couple of offers which I actually reduced after adding up exactly how much it would cost to put right. My conveyancers registered a note of interest on my behalf as you have to do up here. Basically what this means is if any other bids come in then the Estate Agents have to inform you.....or so I thought.

Last week I got a phone call from the Estate Agents asking me if I was interested in the house going to a closing date. This means you put in your best bid and immediately after the closing date the highest bidder wins. I was prepared to put in that wee bit extra even though I knew I would be paying over the odds.

I called the Estate Agents today to ask about any progress and they told me the vendor had accepted a bid and it was now 'under offer'! I was furious with them because:

1. The estate Agents never had the common courtesy to pick up the phone and inform either me or my solicitors even though I had registered a note of interest.
2. If they had then I would have increased my offer and perhaps won the bid, even though I would be paying over the odds in my opinion.

Maybe I'll reflect back in a few days and be glad I lost out but I'm just furious with the Estate Agents in how they handled it. Hopefully now the prices here will start to drop and I'll get a better deal.

drowningnotwaving_2

Yes, I do. Hate estate agents, that is.

The only upside to a property crash? Estate agents lose their jobs. Boo hoo.

Hope things work out for you and you find something better.

Conrad

Yes I dislike some of them.

However, you'd given them your final offer and it was'nt enough. Why would they waste time informing you of other offers, afterall if you had put in the highest offer and then found out the agents had gone to the other interested parties to conduct a dutch auction and then you lost out............

Really, try and see it from all angles not just your own

Argyll_2

Conrad wrote: »

Yes I dislike some of them.

However, you'd given them your final offer and it was'nt enough. Why would they waste time informing you of other offers, afterall if you had put in the highest offer and then found out the agents had gone to the other interested parties to conduct a dutch auction and then you lost out............

Really, try and see it from all angles not just your own

I don't think your getting this mate.

I put in an offer, not my final offer which the vendor refused. I obviously was wanting it for the cheapest price for me. I was prepared to add a little bit extra on top of my original offer so I was waiting for the Estate Agent to get back to me and they never did. If they had like they had said they would then I was about to add an extra £2000 to my original offer. However that never happened and I lost out.

Does this help?

Pipistrel

Thats really out of order and not in the sellers best interest either (i'm also in Scotland). From a sellers point of view going to a closing date is ALWAYS preferable as people tend to get bidding fever and put in a bit extra. I wonder if the EA told them about your offer or not. Nothing would surprise me with these guys. I have a feeling my EA is telling me about 'viewers' that come during the day when im at work, that actually dont exist as doors etc are exactly how i left them in the morning. Probably to keep me from moaning at them.

PS: im selling a lovely cottage in dunblane if you are still on the lookout. Need a quick sale so is at a real bargain price

PasturesNew

Maybe the other buyer was crawling all over it, making a substantially increased offer and in a position to proceed.

Maybe the other buyer kept the communications channel open and reacted positively and promptly to the EA's enquiries and just "had to have it" and made this known by slapping a "can't refuse" offer on the table.

Maybe they were seen as the best bet and the sellers just wanted it over and done with and so the deal was done.

The seller decides things. The EA is working for them, not you.

Argyll_2

Pipistrel wrote: »

Thats really out of order and not in the sellers best interest either (i'm also in Scotland). From a sellers point of view going to a closing date is ALWAYS preferable as people tend to get bidding fever and put in a bit extra. I wonder if the EA told them about your offer or not. Nothing would surprise me with these guys. I have a feeling my EA is telling me about 'viewers' that come during the day when im at work, that actually dont exist as doors etc are exactly how i left them in the morning. Probably to keep me from moaning at them.

PS: im selling a lovely cottage in dunblane if you are still on the lookout. Need a quick sale so is at a real bargain price

How many bedrooms and how much? Dunblane is a really nice area so it may be out of my price range but you never know.

confused31_2

Argyll wrote: »

I don't think your getting this mate.

I put in an offer, not my final offer which the vendor refused. I obviously was wanting it for the cheapest price for me. I was prepared to add a little bit extra on top of my original offer so I was waiting for the Estate Agent to get back to me and they never did. If they had like they had said they would then I was about to add an extra £2000 to my original offer. However that never happened and I lost out.

Does this help?

if like you said earlier they where taking offers, sureley when they turned your last offer down you should have told them you was going to make another offer.

Imagine if you was the other person and you made an offer more than someone else, then the estate agent contacted the other person and said weve had an offer higher than yours do you want to make an offer?

And then they did, it would go on for ever.

Its like ebay you dont know what other people are paying and why should you it would be unfair.

At the end the day if you wanted to pay more you should have made an higher offer, they turned your last offer down and in their opinion they must have thought you didnt want to pay anymore.

I hate estate agents, but to be honest what i have read the only person you can blame is yourself.

confused31

Argyll_2

PasturesNew wrote: »

Maybe the other buyer was crawling all over it, making a substantially increased offer and in a position to proceed.

Maybe the other buyer kept the communications channel open and reacted positively and promptly to the EA's enquiries and just "had to have it" and made this known by slapping a "can't refuse" offer on the table.

Maybe they were seen as the best bet and the sellers just wanted it over and done with and so the deal was done.

The seller decides things. The EA is working for them, not you.

God another one!

I was 'crawling all over it' also. I also was in a position to proceed. I also regularly contacted the EA for updates.

My point is this. I should have been informed of any bids by the EA. You are quite right in saying the seller decides things but my other point is the EA never even had the courtesy to pick up the phone and inform me what was happening. Up until 2 hours ago I still thought it was going to a closing date.

Even if the seller told the EA to accept the offer they should have called me and asked me what my final offer was. That is how a notice of interest works up here

Do me a favour and read up on how things work up here before you decide to post your tuppence worth on things you don't fully understand!

confused31_2

when you made your last offer did you tell tem you was going to make another offer?

If no they might have thought we have only got one offer lets accept it, they might have been in a rush.

I can understand your frustration, but did you make it clear you was still interested after your last offer?

How many days was it you made your last offer?

When was the date for the final offers?

confused31

Argyll_2

confused31 wrote: »

if like you said earlier they where taking offers, sureley when they turned your last offer down you should have told them you was going to make another offer.

Imagine if you was the other person and you made an offer more than someone else, then the estate agent contacted the other person and said weve had an offer higher than yours do you want to make an offer?

And then they did, it would go on for ever.

Its like ebay you dont know what other people are paying and why should you it would be unfair.

At the end the day if you wanted to pay more you should have made an higher offer, they turned your last offer down and in their opinion they must have thought you didnt want to pay anymore.

I hate estate agents, but to be honest what i have read the only person you can blame is yourself.

confused31

Jesus Mary and Joseph

This is turning in to an argument when it doesn't have to.

No it's not like ebay at all. This is the Scottish Property market, not an online auction site.

When a notice of interest is made the Estate Agent HAVE TOO inform all interested parties of any further bids. This is the whole point of registering a note of interest. It also lets potential buyers how much interest there is in that property.

Pipistrel obviously knows how things work up here. For anyone else who doesn't please do not post unless you know what you are talking about.

THE SCOTTISH PROPERTY SYSTEM DOES NOT WORK THE SAME AS THE ENGLISH SYSTEM!

My argument is not with the seller it is with the Estate Agent who should have informed me.

Please read my initial post correctly before posting please.